. >>> coming up this hour, bridgewater chief investment strategist rebekah patterson and why she's still hawkish on this market first up a read of the stocks and abroad with senior markets commentator mike santoli what are you watching, mike? >> the setup was not only the selloff last week but also a market that the last couple of weeks has absorbed a lot of blows and hasn't buckled we had multiple blow once from the big tech stocks and had the fed rate hike in a warning and the jobs number which was not optimal for either of the stronger or weaker economy however, the market has held in there, that's because industrials, health care, financials have been resilient and then today you finally have the oversold mega cap growth stocks apple almost flat or green earlier, but the rest of them higher and participating a little bit where does it take us? a little over 3800 the rally raced above 3800 off of the mid-october lows and stalled out not far above that also just for mental accounting purposes we were around 3835 at the end of jay powell's press conference last wednesday, so the selloff

it's why bridgewater, i think, is up i don't know more than 40% or so i've heard shorting a lot of things because that's what's happening here with policy. >> i think if you look at markets, they're just pricing an impossible scenario and that's why you're getting the kind of repricings you're seeing today at the end of the day, they're pricing that somehow the economy can stay strong. we won't have a major earnings recession, and at the same time, inflation will sort of magically come back down to where it needs to be because the fed said so. that's not going to work you're going to have to actually slow the economy, and so it makes sense that you're starting to get a slowing of the economy priced into stocks or that you'll see higher inflation. when you look at the equity markets in situations like this, they just don't look at where we are today. the equity market keeps declining until it's actually clear that the economy is slowing. and then the fed is willing to actually make a real turn because the economy is slowing they've actually fallen enough to discount weakness that you'd rat

the hedge fund founded by billionaire ray dalio, bridgewater associates went shopping in the quarter. today lose, microsoft and alphabet. one of those names making county "countdown" closer pick list. kevin karon. which one? >> mike soft of course. what we're looking at here is a market that has gone through the gyrations of the last year. we've gone from a situation where essentially zero percent interest rates a couple years ago with relatively low inflation. inflation started picking up. the fed did not respond quickly and as a result the real interest rate which is what really matters, think of it as the accelerator on the car, the fed in july of 2021 had the accelerator to the floor. today what we're see something that the fed is standing on the brake and inflation is cooling which sounds good. however, if the fed stays at 5% interest rates which is what the market thinking they will be at a year from now, and inflation does come down, what that effectively means is that the fed will be pushing harder on the peak. so it is setting up the potential after lot of shuttering in the m

while bridgewater cut a stake in baidu by 20% there were some buyers, coatue increasing its shares ine best month in seven years it's now trading to 36 times earnings versus historical average of 32. but clearly, the sentiment seems to be changing when you look at the stocks but the bigger investors are still cautious >> tim draper, big investor, well-known to our audience big early investor in chinese stocks what he's saying about this rally and what he's saying about just china generally >> the takeaway from tim draper and what he said last night was that he's losing confidence in investing in china this is significant, because he's an early investor in the country, an early investor in ba baidu.com. and it kind of speaks to the overarching trend that we've seen this year, which is investors, the larger ones pivoting away from china, looking for opportunities across asia india has been a big beneficiary, as well we'll see if china's reopening, if this gathers momentum, if that can bring some of these investors back >> seema mody, big story, big country, by the way, china >> world's

last february, two college police officers were killed at bridgewater, with three people shot last nightalifies as a mass shooting. there have been 598 mass shootings in this country this year. that's a slightly lower number than last year, but there's no reason to celebrate. the number in this country is still so much higher than it was in just 2019. as someone who grew up an hour from uva, this is shocking and will truly shake that close-knit community. george? >> no question about that. pirre, thanks very much. >>> now to the latest on the midterm elections. democrats have kept control of the is that the with the win in nevada over the weekend. congressional correspondent rachel scott tracking it all from capitol hill. good morning, rachel. >> reporter: george, good morning. the party in power typically suffers big losses in midterm election year. you add to that sky-high inflation and low approval ratings but president biden is on track to do something few first-term presidents have done in a first midterm election. this morning, democrats celebrating a narrow victory after beating t

john in bridgewater, new jersey, republican line. caller: i am very conflicted. i think trump did a lot for the party and 2016. if you look at his record, he pastore oversaw lots of good things -- he passed or oversaw lots of good things he will never get credit for. tax reform led to many, many good benefits in the economy. deregulation eased and we became the number one energy producer. i will stop there. as far as the 2020 election, i will say something unpopular. we do not know yet. the problem was the mail-in ballots. we have never had unlimited mail-in ballots before. cities like philadelphia, milwaukee, and detroit are notoriously corrupt. i will stop there. host: you need to get to the point about the 2022 election. caller: 2022? that's the one we just had. host: you were saying 2020. caller: that's right. i think he did fine. blake masters won, j.d. vance won, herschel walker might win. however, going forward, i think it is past trump time. i like ron desantis and i think we should move forward with him. my favorite pic is mike pompeo. host: let's hear f

john in bridgewater, new jersey, republican line. caller: i am very conflicted. think trump did a lot for the party and 2016. if you look at his record, he pastore oversaw lots of good things -- he passed or oversaw lots of good things he will never get credit for. tax reform led to many, many good benefits in the economy. deregulation eased and we became the number one energy producer. i will stop there. as far as the 2020 election, i will say something unpopular. we do not know yet. the problem was the mail-in ballots. we have never had unlimited mail-in ballots before. cities like philadelphia, milwaukee, and detroit are notoriously corrupt. i will stop there. host: you need to get to the point about the 2022 election. caller: 2022? that's the one we just had. host: you were saying 2020. caller: that's right. i think he did fine. blake masters won, j.d. vance won, herschel walker might win. however, going forward, i think it is past trump time. i like ron desantis and i think we should move forward with him. my favorite pic is mike pompeo. host: let's hear fro